KUALA LUMPUR: Meta Bright Group Bhd aims to secure more contracts in the commercial and industrial buildings (C&I) segment this year for its solar photovoltaics zero capital expenditure (PV zero capex) programme, given the global push towards sustainable energy solutions and the growing demand for renewable energy.
Executive director of corporate and strategic planning Derek Phang Kiew Lim said Meta Bright is exploring new markets domestically and regionally that can offer substantial growth opportunities for its renewable energy business, particularly in the C&I segment.
“Under the zero capex programme, this initiative allows us to provide solar energy solutions with no upfront cost, making it an attractive option for businesses looking to reduce their carbon footprint and energy costs.
“Beyond Malaysia, we are also evaluating opportunities in neighbouring Southeast Asian countries. Countries such as Indonesia, Thailand, and Vietnam have shown significant interest in renewable energy, driven by favourable government policies and incentives aimed at reducing carbon emissions and promoting sustainable development,” he told SunBiz.
In March, Meta Bright initiated the commercial operations of its solar project for Sinergi Perdana Sdn Bhd under the solar PV zero capex programme.
The 401.76kWp solar project, developed by its wholly owned subsidiary FBO Land (Setapak) Sdn Bhd, is part of a 21-year renewable energy supply agreement that offers Sinergi Perdana a 20% discount to electrical tariff rates, equipped with imbalance cost pass-through.
The project is expected to reduce around 380.81 tonnes of carbon dioxide emissions each year.
Sinergi Perdana is a company owned by Rubber Industry Smallholders Development Authority under the Ministry of Rural and Regional Development.
Meta Bright is also actively pursuing merger and acquisition (M&A) opportunities, particularly those that are earnings accretive, have competent management teams, and operate in industries with promising prospects. The industries include renewable energy, leasing, and energy efficiency sectors.
“Meta Bright’s approach to M&A is strategic and deliberate. The focus is on identifying companies that have solid potential but require additional funding and strategic support to realise their growth aspirations. As a listed company, Meta Bright can provide the necessary capital and resources to accelerate the growth of these companies, ensuring mutual success and enhanced value for all stakeholders involved,” Phang said.
He said Meta Bright’s focus on investment properties involves acquiring developed assets such as shopping malls and commercial shop lots in Pahang and Kelantan. “These properties generate stable revenue with a five-year income tenure, enhancing our total net assets and positively impacting our net asset value per share.”
Touching on the hotel segment, Phang said the company’s Grand Renai Hotel in Kelantan is focused on niche markets, specifically catering to business travellers and the meetings, incentives, conventions and exhibitions segment.
“We have invested more than RM20 million in refurbishing the hotel. This investment has significantly upgraded our facilities and services, making the hotel more attractive to guests. We have consistently achieved an occupancy rate of over 80%. Continuous upgrades and maintenance ensure that the hotel remains a top choice for travellers,“ he said.
The investment for the hotel will include upgrading guest rooms and common areas with modern designs, high-quality furnishings, and amenities to meet the expectations of today’s travellers.
Additionally, conference and meeting facilities will be enhanced with advanced audio-visual equipment, improved internet connectivity and flexible meeting spaces. Dining options will be expanded and revamped with new concepts to cater to diverse tastes. Recreational facilities will also be upgraded, including a new fitness centre, a renovated swimming pool area, and a potential spa and wellness centre.
